Podcasts

Episode 71: How to Generate Passive Income With a Wholesaling Business

If you want to get into Wholesaling and see results FAST, this episode is for you.

Today’s guest, Zack Boothe, is a motivated Rhino who just joined the tribe in February 2017 – and he’s already closed two deals, with more closing soon and more still in the pipeline.

IN THIS EPISODE YOU’LL LEARN:

How you can create passive income streams using Wholesaling
The successes that come from being uncomfortable
Why goal setting is a vital skill for high performers

Zack’s Unique Approach: Passive Income Streams

Zack is using Wholesaling as a tool to create passive income streams – in addition to selling properties, he cherry picks the best properties and adds them to his rental portfolio.

All of Zack’s deals, whether he keeps them or not, come from hand-written postcards.
Zack isn’t looking for the perfect property… he’s looking for the perfect seller. He only works with sellers who want to sell their property. “These deals are always structured as a win-win for everyone, or we don’t do them.”
He always asks about what the seller needs and wants, and he always offers an opportunity for a seller finance deal (which can actually save sellers a lot of money on taxes).
Using tips from The ABCs of Real Estate Investing, he evaluates if the property is better for flipping or his portfolio.
Zack recently acquired a condo and, after all of his expenses and spending $2,000 out of pocket, he will be making $4-500/month from just one deal.

The Art of Goal Setting

Before Zack started Wholesaling, he already had a goal and a vision for his business. That clarity, mixed with motivation, really helped him start off strong. If you don’t know what you want and you don’t put it down on paper, then you’re just going to run in circles.

“You’ll never reach your full potential as a person unless you master the art of setting a goal.”

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